Many laid-off workers are transitioning away from unemployment. But instead of simply working for another company, a significant number are going into business for themselves.

Inc. magazine reports that more than 50 of those aspiring entrepreneurs came together at the “Silver Lining in the Pink Slip” panel at New York University. Business leaders explained how starting a business incorporation after being laid off helped them realize their potential.

“I remember walking around the city and people were like, ‘I’m so sorry you were laid off,'” Superna Bhasin, CEO of She Creates Change, told the source. “I was like, ‘You know what? Congratulate me, because I’m off to my next adventure,'” she said. “It really empowered me.”

Making the switch to self-employment is not an automatic process. The Associated Press reports that workers who do decide to go into business for themselves will need time to adjust to the idea and learn to pay more attention to the details of running a company – such as doing taxes – that they may be less familiar with.